Virgin Media’s share scheme windfall

Almost 2,500 Virgin Media employees could receive an average of £15,984 each as the media company is sold to US cable television giant Liberty Global.

Around 2,468 staff who signed up for a sharesave scheme in 2009 will share in the proceeds of the deal, which was agreed on 6 February.

These employees saved an average of £74 into the scheme each month for three years. When the scheme was launched in 2009, Virgin Media’s share price stood at £5.83. When it matured in November 2012, the option price was £30.58.

A spokesperson for Virgin Media said: “All those people who are in a share scheme now book a paper profit, but it is notional because they’re not selling yet. They will go on to hold shares in the combined group, provided the deal closes.”